Sonic Automotive Increases Its Quarterly Cash Dividend By 3.4% To $0.30/Share From $0.29/Share
Portfolio Pulse from Benzinga Newsdesk
Sonic Automotive's Board of Directors has approved a 3.4% increase in the company's quarterly cash dividend, raising it from $0.29 to $0.30 per share. The dividend will be payable on January 12, 2024, to all stockholders of record on December 15, 2023.
October 26, 2023 | 11:09 am
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Sonic Automotive's dividend increase may attract income-focused investors, potentially leading to a short-term increase in the stock price.
Dividend increases are often seen as a sign of a company's financial health and can attract income-focused investors. This could lead to increased demand for Sonic Automotive's stock, potentially driving up the price in the short term.
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